The Hut Group (THG) has posted its results for the year ended December 31st 2019. These show that group sales rose by 24 per cent to reach £1.140 billion, with international sales accounting for 66 per cent of overall revenues. Meanwhile, gross profit was up by 22 per cent to £511 million, with EBITDA up 22 per cent to £111 million. THG’s own brands contributed 50 per cent of group sales.
During the year the business had created 1500 new jobs, primarily in the north west, bringing its total headcount to over 7000. It had also pumped £60 million into a new fulfilment centre in Poland to provide it with a Brexit ‘hedge’.
CEO Matthew Moulding said: “It has been a year of significant progress across the group. We have continued to make huge investments to develop our infrastructure, technology, brands and people, which continue to deliver substantial growth, with group sales of £1.1 billion in 2019.”
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